SA Market Update 19/10/2018

The rain arrived and just in the nick of time for some, with SA receiving some nice falls state-wide since the start of the week. I fell in a puddle on the way to feed the horses this morning – it was most unexpected but quiet refreshing! Thursday afternoon the clouds gave way to a warm sunny day with temperatures increasing over the weekend. The eight-day forecast is showing small showers of 1-5mm state-wide.

Harvest receivals started to dribble in this week with the first load of H2 taken at Port Pirie over the weekend followed by a load of barley and a load of peas. Overall, it looks as though we have a few weeks to a month before headers really start to roll out.

Driving around the Murraylands over the past few days confirmed crops are as variable as ever with some green enough to take full advantage of the recent rainfall with other crops either cut for hay, being put aside as standing hay crops or starting to ripen.

Markets have softened slightly toward the end of the week with buyers steadying the ship prior to harvest. Good selling opportunities can be found in delivered markets with bids of $420/MT SFW1 Oct/Nov delivered northern Adelaide. In new crop markets, while we have seen a slight easing in prices, bids are still strong with canola remaining well north of the $600/MT mark in both the Port Adelaide and Port Lincoln zones. Wheat and barley are a similar story with bids back a few dollars but still solid at $380/MT F1 Port Adelaide and $350/MT Port Lincoln with APW1 still hanging around the $420’s/MT Port Adelaide and $380’s/MT for the Port Lincoln zone.

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Scope barley near Murray Bridge SA

Prices as at 18th October

* View of current market pricing. Does not represent current Agfarm bids.